Real Estate Corner: Are there renovations that decrease home value?

Q. Are there renovations that decrease home value?

A. There are things you can do to your home that may seem like a good idea now but could cost you when you attempt to sell in the future. For instance; knocking down the walls between two bedrooms to make a bigger one could cost you tens of thousands of dollars.

Houses with more bedrooms command higher prices. Three bedroom homes sell the most. Unless you have more than 3 bedrooms, think long and hard before deciding to renovate your home into one with fewer bedrooms. Fewer bedrooms will also limit the number of people who will be interested to even look at your future listing.

Buyers also want lots of closet space. You may be tempted to eliminate a closet to make space for a something else but don’t do it. If you really need more space, then simply change a room’s layout, but never, ever, remove the closets.

These days, people use their garages for storage or even use a part of it as an office. That is perfectly fine and acceptable. But don’t make it a permanent conversion and eliminate space to park a car. Most people want a roof over their cars, especially in areas where the weather can get a bit wild come winter.

Use wall paper sparingly. Some wallpaper can be notoriously difficult to remove so it goes without saying that a prospective buyer may not be very happy when the whole house is smothered in wallpaper. Removing them and prepping the walls for paint can easily cost a few thousand dollars, and that’s something that can put off potential buyers

You want to make your house your home. But by going for home renovations that add value and function, you will still be able to have the features you want without compromising your home’s market value.

I’d be more than happy to discuss this further with you and answer any questions you may have. Just give me a call.

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